The Origin Energy Ltd (ASX: ORG) share price hit its highest point since the COVID-19 pandemic began on Friday, surging to trade at $6.45.
The last time the energy company's stock hit such heights was back in March 2020.
As of Friday's close, the Origin share price had retreated slightly to $6.38 – representing a 1.43% gain for the day and a 7.77% gain for the week.
For context, the S&P/ASX 200 Index (ASX: XJO) and the All Ordinaries Index (ASX: XAO) both finished Friday in the green. They gained 0.26% and 0.27% respectively.
Let's take a closer look at what might have helped drive the Origin share price on Friday.
What boosted the Origin Energy share price higher today?
The Origin Energy share price spent the day in the green on Friday, alongside many other ASX 200 energy shares.
In fact, the S&P/ASX 200 Energy Index (ASX: XEJ) ended the day 0.89% higher.
That's despite oil prices easing overnight Thursday and trading relatively flat during Friday's session.
As of the ASX's close, the West Texas Intermediate futures were trading lower at US$112.22 per barrel, according to CNBC. Meanwhile, Brent crude oil futures were slightly higher at US$119.13 per barrel.
Natural gas futures weren't trading any better, having gained just 0.1% when the ASX closed for the week.
Despite the sullen movements, oil stocks Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) and Beach Energy Ltd (ASX: BPT) topped the energy sector on Friday. They gained 2.19% and 1.24% respectively.
Uranium producer Paladin Energy Ltd (ASX: PDN) was the only ASX 200 energy stock to record a loss on Friday. At the final bell of the week, the company's shares were trading 1.78% lower.
There's been no news from Origin to explain its share price's strong recent performance.
However, it updated its net-zero strategy, adding cost-cutting initiatives to the mix, and announced a $250 million buyback earlier this month.
